Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC grew its position in Lamar Advertising (NASDAQ:LAMR) by 31.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,215 shares of the real estate investment trust’s stock after buying an additional 1,484 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lamar Advertising were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of LAMR. Blue Trust Inc. grew its position in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 151 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising in the third quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in shares of Lamar Advertising in the third quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 143 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LAMR shares. TD Cowen boosted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $132.00 on Thursday. The firm has a market capitalization of $13.51 billion, a PE ratio of 26.40 and a beta of 1.51. The business’s fifty day moving average price is $124.87 and its 200 day moving average price is $127.35. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 12 month low of $106.43 and a 12 month high of $139.88.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.70%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.